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PMC-Sierra board sticks with Skyworks takeover plan

The board of US chip maker PMC-Sierra (NASDAQ:PMCS) is standing by semiconductor firm Skyworks Solutions (NASDAQ:SWK) and its US$2.27bn all-cash offer, believing a higher bid from rival Microsemi (NASDAQ:MSCC) is riskier because of its stock element. Microsemi tried last week to trump the latest Skyworks proposal, an improvement on the US$2bn the latter initially offered in October, with a US$2.33bn cash-and-stock plan. The deal...